1. General guidelines
The procedures that follow outline the University’s annual compliance reporting process and must be read in association with the Compliance Management Framework – Governing Policy and other related procedures.
2. Intent and objectives
The intent of this procedure is to:
- provide a systematic process for the reviewing of compliance obligations to enable the University to effectively and efficiently manage compliance risks; and
- enable the gathering of information to facilitate monitoring and reporting of compliance performance within the University.
3. Compliance reporting
3.1 The Chief Operating Officer will coordinate an annual compliance risk report for the Audit and Risk Management Committee.
3.2 Cost Centres will contribute to the annual compliance risk report via a report to the Chief Operating Officer which confirms that:
a. monitoring of compliance for each compliance obligation allocated is being effectively managed;
b. any moderate or higher rated risk relating to these obligations have been reported as they have arisen and been treated appropriately in accordance with the University's Risk Management Procedures;
c. any known risks faced by impending legislative requirements are being considered and actions are being taken to address them; and
d. the compliance obligations detailed in the Register of Compliance Obligations remain relevant to that Cost Centre, (and provide details of any new obligation or redundant obligations).
3.3 The Audit and Risk Management Committee is responsible for ensuring that it receives an annual report and any ad hoc reporting on compliance as required from the Chief Operating Officer, and that it identifies and requests follow-up action on any issues of concern.